28
Sep
10:54
China's Haixin adopts restructuring plan
China’s bankrupt Haixin Iron and Steel has formally adopted a restructuring plan after creditors gave their approval last week. The move clears the way for a planned takeover by Jilin Jianlong Group, Kallanish notes.
Of 881 creditors representing CNY 19.71 billion ($3.09 billion) of debt, 793 representing CNY 13.81 billion in debt voted to adopt the plan. Large creditors have given up the right to full repayment under the plan. Workers would be paid full t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous